Jindal Steel and Power Limited (JSPL) has dipped 5% to Rs 194 in early morning deals on BSE, on reports that the Central Bureau of Investigation (CBI) questioned the promoter Naveen Jindal in connection with its FIR against him and his company for alleged cheating while applying for coal block.
The stock has tanked 21% in past three trading sessions compared to 3% fall in benchmark Sensex. The stock is currently trading at its lowest value since April 2009.
According to the FIR, JSPL and Gagan Sponge Iron Ltd, also a firm belonging to Jindal, had bagged Amarkonda Murgadangal coal block in Jharkhand in 2008 by alleged misrepresentation of facts when Rao was the Minister of State for Coal.
The stock has tanked 21% in past three trading sessions compared to 3% fall in benchmark Sensex. The stock is currently trading at its lowest value since April 2009.
According to the FIR, JSPL and Gagan Sponge Iron Ltd, also a firm belonging to Jindal, had bagged Amarkonda Murgadangal coal block in Jharkhand in 2008 by alleged misrepresentation of facts when Rao was the Minister of State for Coal.
